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I EXCERPTS FROM CHAPTER '468 SENATE BILL 293 AN ACT TO AMEND TIlE LAWS GOVERNING THE LAW ENFORCEMENT OFFICERS' BENEFIT AND RETIREMENT FUND SO AS TO RECEIVE A FAVORABLE DETERMINATION AS A QUALIFIED TRUST BY THE INTERNAL REVENUE SERVICE AND TO THEN CAUSE A TAX SItELTERING FROM CURRENT INCOME OF MEMBERS' CONTRIBUTIONS. The General Assembly of North Carolina enacts: ~ . . See. 10. G.S. 143-166 is amended by the additinn of a new subsection immediately after subs~tion fi) designated as "{ilY' to read: "(il) Pick Up ~f Officer Contrihutions. Anything within this section to the contrary notwithstanding and pursuant tn the provisions of Section 414(h}(2) of the Internal Revenue Code of 1954 as amended: (1~ the State shall pick np and pay the contributions whie}~ would be payahle by State- employed officers as members under suhsection (il of this section with respect to the ser- vice of officers after the effective date of this subseetioo: and il countv, city. loxx.n or othe~ pulitical suhdivisiou of the State thereinafter referred to aq their officers after the effective date of this subsectioo and after the effecUve date ol such a~reementx: Prnvided. this prnvisim~ to pick up and pay the officers' contrihntions by other employers shall apply only tu such o0wr employers who are participaling employers in the Local Governmental Empk~yees' Retirement System or who administer some other employers' trust qualified ender Sections 401fa), 403(a) or 405ia~ of the Internal Revenue Code of 1954 a5 amended, and then only if such other employers have elected to pick up and pay employee contributions for all their other employees to the olher qualified The officers' contributions picked np by the State or other employer shall be designated for all pur- poses of the Retirement System as member contributions, except ~or tl~e determination of tax open ~ distribi~tion from the S3~stem. These contributioes shall be credited to the Regular Contribntions Aecounl and accumulated within the account in a member's acconnt which shall he separately established for the Members' contributions picked up by the Stale or other empluyer shall be payable from the same source of funds used for the payment of compensation of a member. A deduction shall be made from a member's compensation equal to lbo amount of his contributions picked up by the State or other employer. This deduction, however, shall not reduce his compensation. Picked-up contributions shall be transmitted to the System monthly for the preceding month by means of a warrant drawn by the State or ol~er employer and payable to the Law Enforcement Officers' Retirement System and shall be accompaoied by a schedule of the picked-up contributions on such forms as may be preserihed.' See. 11. SeeUons 1 through 9 of this act are effective epon ratification and Section 10 shall b~ome ef- fective on the firs~ day of any calendar nmnth within 60 days after thc filing with ~he Seerel ary of State of States Department of Treaxnry. thai the Law Enfureemenl Officers' Retiremenl System is an emplny~s' trusl qualified under Section 4011al of the loternal Revemw Cude of 1954 as amended, but unly if snob dctermiuation letter or ruline i5 filed by jnne 30, 1985. In the (;eueral Assembly read three times and ratified, this the Nth day of Jtme. 1983.